NMI Holdings, Inc. (NASDAQ:NMIH) Sees Significant Drop in Short Interest

NMI Holdings, Inc. (NASDAQ:NMIH - Get Free Report) saw a large decline in short interest in the month of April. As of April 15th, there was short interest totalling 1,430,000 shares, a decline of 16.9% from the March 31st total of 1,720,000 shares. Based on an average daily volume of 598,100 shares, the days-to-cover ratio is presently 2.4 days. Currently, 1.9% of the shares of the company are sold short.

Analysts Set New Price Targets

Several research firms recently commented on NMIH. JPMorgan Chase & Co. cut their target price on NMI from $42.00 to $41.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. UBS Group reduced their target price on shares of NMI from $42.00 to $41.00 and set a "neutral" rating on the stock in a research note on Wednesday, February 19th. Keefe, Bruyette & Woods lowered their target price on shares of NMI from $43.00 to $42.00 and set an "outperform" rating on the stock in a report on Tuesday, April 8th. Finally, StockNews.com raised shares of NMI from a "hold" rating to a "buy" rating in a report on Monday. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat, NMI presently has a consensus rating of "Moderate Buy" and a consensus target price of $42.14.

Insider Transactions at NMI

In other NMI news, insider William J. Leatherberry sold 13,111 shares of NMI stock in a transaction on Wednesday, April 30th. The shares were sold at an average price of $35.56, for a total transaction of $466,227.16. Following the sale, the insider now owns 163,796 shares in the company, valued at $5,824,585.76. The trade was a 7.41 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Adam Pollitzer sold 57,166 shares of the stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $36.54, for a total transaction of $2,088,845.64. Following the completion of the transaction, the chief executive officer now owns 329,465 shares of the company's stock, valued at approximately $12,038,651.10. This represents a 14.79 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 111,360 shares of company stock worth $4,042,654. 3.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On NMI

Hedge funds and other institutional investors have recently bought and sold shares of the business. Sound Income Strategies LLC acquired a new stake in shares of NMI during the first quarter worth $25,000. Principal Securities Inc. boosted its holdings in NMI by 66.5% during the fourth quarter. Principal Securities Inc. now owns 716 shares of the financial services provider's stock worth $26,000 after buying an additional 286 shares during the last quarter. Opal Wealth Advisors LLC acquired a new position in shares of NMI during the 1st quarter worth about $33,000. Neo Ivy Capital Management bought a new stake in shares of NMI in the 1st quarter valued at about $47,000. Finally, GAMMA Investing LLC raised its position in shares of NMI by 104.2% in the 1st quarter. GAMMA Investing LLC now owns 1,564 shares of the financial services provider's stock valued at $56,000 after acquiring an additional 798 shares during the period. 94.12% of the stock is owned by institutional investors.

NMI Trading Up 1.1 %

Shares of NMIH stock traded up $0.40 on Wednesday, reaching $38.37. 141,927 shares of the stock were exchanged, compared to its average volume of 546,965. The stock has a 50 day moving average price of $35.01 and a 200 day moving average price of $36.69. The stock has a market cap of $3.00 billion, a PE ratio of 8.68, a P/E/G ratio of 1.41 and a beta of 0.56. NMI has a one year low of $31.59 and a one year high of $42.49. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.60 and a quick ratio of 0.83.

NMI (NASDAQ:NMIH - Get Free Report) last released its earnings results on Tuesday, April 29th. The financial services provider reported $1.28 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.10 by $0.18. NMI had a net margin of 55.32% and a return on equity of 17.33%. The company had revenue of $173.25 million for the quarter, compared to the consensus estimate of $169.04 million. During the same period in the prior year, the company posted $1.08 EPS. The company's revenue was up 10.8% compared to the same quarter last year. Equities research analysts forecast that NMI will post 4.62 EPS for the current fiscal year.

NMI Company Profile

NMI Holdings, Inc provides private mortgage guaranty insurance services in the United States. The company offers mortgage insurance services, such as primary and pool insurance; and outsourced loan review services to mortgage loan originators. It serves national and regional mortgage banks, money center banks, credit unions, community banks, builder-owned mortgage lenders, internet-sourced lenders, and other non-bank lenders.